The Kelowna Real Estate Buyers Survey Results are now out for January 2022.

The was a sharp fall in first-time buyers last month, probably caused by the lack of inventory and increasing struggle with affordability.

Investors were busier, as were downsizing Buyers.

There were fewer Buyers from the Lower Mainland, but a modest uptick in Buyers from Alberta.

Kelowna / West Kelowna saw fewer Buyers than other areas last month, as this area continues to see an acute shortage of inventory.

Here is the full report below.

Best describe your most recent Buyer (moving to/from property type)

First Time Buyer – 14.57% (21.29%)

Revenue Property Investor – 21.05% (15.26%)

Moving Up – 19.03% (16.06%)

Similar Property Type – 19.03% (18.88%)

Downsizing – 19.53% (11.65%)

Single-family Res to Strata – 3.24% (5.62%)

Recreational Property – 6.88% (5.62%)

Retirement Community – 0.40% (2.41%)

Strata to Single Family – 2.02% (2.41%)

Describe the Buyer (family dynamic):

Couple without children – 24.21% (22.98%)

Two Parent family /children – 26.59% (29.44%)

Empty nesters or retired – 19.44% (15.32%)

Single female – 8.73% (9.68%)

Single male – 10.71% (13.31%)

Single parent with children – 2.78% (5.24%)

Where did Buyer move from?

From within Association area – 58.40% (54.58%)

From Lower Mainland/Island – 19.6% (23.11%)

From Alberta – 8.40% (5.98%)

From other Areas BC – 6.00% (6.37%)

From E Canada/Maritimes – 4.8% (5.18%)

From Sask./Manitoba – 1.2% (2.39%)

From outside Canada – 1.20% (2.39%)

From the NWT/Yukon – 0.40% (0.00%)

In what area was property purchased?

Kelowna/West Kelowna – 35.63% (43.37%)

Vernon/Coldstream – 17.00% (16.87%)

Central Ok (outside K/WK) – 7.29% (9.24%)

Salmon Arm – 6.48% (6.02%)

North Ok (outside V/CS) – 5.67% (4.02%)

Shuswap/Rev (outside SA) – 7.69% (4.82%)

Oliver/Osoyoos – 4.05% (3.21%)

Princeton/Keremeos – 1.21% (0.40%)

Summerland – 3.64% (0.80%)

Penticton/Naramata – 8.10% (9.64%)

Dawson Creek – 2.43% (0.80%)

Chetwynd/Tumbler Ridge – 0.81% (0.80%) 

Kind Regards

Trish Cenci

Kelowna Real Estate Agent